eddylazzarin
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L1 tokens aren't blockspace. They're:
1: the token you (usually) use to pay for blockspace
2: the token that captures value (via burn) from consumed block space
Blockspace is the "oil" (commodity). The network token is just ownership in the network/marketplace that sells it.
1: the token you (usually) use to pay for blockspace
2: the token that captures value (via burn) from consumed block space
Blockspace is the "oil" (commodity). The network token is just ownership in the network/marketplace that sells it.
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The strongest case so far against DCF for valuing L1s seems to be comparison with bitcoin, which is not a very good argument.
Sprinkling in words like "money" doesn't help much since the word has ~no rigorous meaning in crypto.
Sprinkling in words like "money" doesn't help much since the word has ~no rigorous meaning in crypto.
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